....KINDLY READ THE FULL STORY HERE▶

Less than 24 hours after President Xi Jinping expressed his government’s dedication to financing more ventures in Nigeria, several Chinese companies have taken a step towards investing $6 billion in Africa’s largest economy…CONTINUE READING

Among them, three companies have signed Memoranda of Understanding (MoU) with Nigeria, committing to invest $2 billion in the fields of vehicles and technology.

Concurrently, other firms have submitted letters of intent, indicating their plans to undertake $4 billion worth of projects within the nation.

These agreements and commitments were formalized on the sidelines of the ongoing 3rd Belt And Road Initiative (BRI) conference in Beijing, China.

The Federal Government delegation, led by Vice President Kashim Shettima, included various ministers and high-ranking government officials.

One of the MoUs was signed between the National Agency for Science and Engineering Infrastructure (NASENI) and three Chinese companies: Shanghai Launch Automotive Technical Company Limited, China Great Wall Industry Corporation, and Newway Power Technology Limited. The collaboration aims to strengthen investment in vehicle and technology sectors.

Furthermore, another MoU was signed with China Harbour Engineering Company Ltd for the construction of the Lekki Blue Seaport project within the Lekki Free Trade Zone in Lagos.